Downing LLP and Tokyo Century Corporation invest £300mln in UK solar
They are jointly acquiring and constructing a portfolio of ~500MW, utility-scale, ground-mounted solar projects in the UK.
The programme will acquire ready-to-build projects with Contracts-for-Difference arrangements. They will be sourced from Downing's pipeline and also from third-party developers targeting grid connection dates in 2027 and 2028.
UK Minister for Trade Sir Chris Bryant says, 'It’s fantastic to see UK-Japan collaboration in action with Japanese firm Tokyo Century and UK-based Downing coming together to invest in the UK’s clean energy sector.'
Tokyo Century Corporation has annual revenues of £6.6bln and 8,000 employees in more than 30 countries. It has global investments in renewable energy generation, with recent investments in a 303MW operational solar portfolio and a 122MW operational onshore wind portfolio in the UK.
Downing has more than 90 professionals dedicated to renewable energy and infrastructure, and since 2010 has made more than 200 investments and ~£920mln of assets under management in renewable sectors with expected energy generation of ~855GWh.
